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Assignment Instructions

Integers in the Real World

Connecting Integers to Finances

Imagine that you have graduated and obtained your ideal job! This project will help you connect what you have learned about integers to personal finances.

In this project, you will:

  1. Learn to describe income using an equation.
  2. Learn to evaluate your income based on given hours per week or a goal amount of money.
  3. Learn to make reasonable conclusions about finances.
  4. Connect the idea of positive and negative integers to credits and debits within accounts.

To complete this project you will:

  1. Complete the Ideal Job Worksheet to guide you in developing your budget. Be sure to show all work!
  2. Complete a 2-page, double-spaced, APA formatted report. In the report, you need to present your findings and explain the connections between your calculations and integers. Thoughts to include in the report include: What types of transactions are positive or negative? How can you write an expression to determine your income? How can you write an equation to solve the number of hours you need to work or the amount of money you need to make to reach your financial goals.

Ideal Job Worksheet

Length/Formatting Instructions

   Length 300 Words   Font 12 point , Calibri Font, no more than 1″ margins   Program/File Type Submit in Word   Attachments Should be pasted into the Word document if possible.   Referencing system APA referencing system is necessary in assignments, especially material copied from the Internet. 

For examples of correct citations, visit the following links:

http://owl.english.purdue.edu/owl/resource/560/01/

File Name       

Integers in the Real World Grading Rubric

Your work will be evaluated on the following criteria:

  CATEGORY Exemplary Satisfactory Unsatisfactory Unacceptable   Writing Style – Organization, Transitions, Tone 5 points
The assignment is written with excellent organization, thoughtful transitions, and the appropriate tone. 4 points
This writing assignment is adequately organized, but has some errors in the transitions or the tone. 2 points
This writing assignment is poorly organized, or it contains ineffective transitions and/or inappropriate tone. 0 points
This writing assignment displays little to no organization or transitions, and/or does not use the appropriate tone.   APA Format – Margins, Font, Spacing, Headings and Cover Page 5 points
The margins, font, spacing, headings, and cover page are all formatted properly. 4 points
There are 1-2 errors in the formatting of the margins, font, spacing, headings, or cover page.  

2 points
There are 3-4 errors in the formatting of the margins, font, spacing, headings, or cover page.

0 points
There are more than 4 errors in the formatting of the margins, font, spacing, headings, or cover page.   APA Format – Citations and References  5 points
All sources used for quotes and facts are credible and cited, and the references and in-text citations are all properly formatted. Each reference has an in-text citation and in-text citation has a reference. 4 points
All sources used for quotes and facts are credible and cited, but slight errors are present in the format of the in-text citations or references. Or there may be one in-text citation or reference missing. 2 points
Some sources used for quotes and facts are either not credible or there are significant errors in the in-text citations and/or references. Or there are multiple missing in-text citations or references. 0 points
The sources used for quotes and facts are not credible and/or not cited. The in-text citations and/or references are not present.   Application to the Real World 40 points
The response indicates a high level application integers in the real world. he response demonstrates a complete understanding and analysis of how and when to use positive and negative integers 32 points
The response indicates a basic application integers to the real world. The response demonstrates a clear understanding of the use of positive and negative integers. 16 points
The response indicates an incomplete application of integers in the real world. The response demonstrates a conceptual understanding and analysis of the problem. 0 points
The response indicates little or no application of integers to the real world.   Accuracy 45 points
The entire assignment was completed with dedicated attention to the directions. Outstanding effort and work exceeds expectations. All work is shown and calculations are accurate. 30 points
Most of the assignment was completed with attention to the directions but some parts are missing. Good effort and work meets expectations. Most calculations are accurate.  

15 points
Assignment was completed but attention to the directions was spotty or parts of the assignment are missing. Some effort was made and work meets minimal expectations. Only some calculations are accurate.

0 points
Assignment is incomplete and/or directions were not followed. Lacks many elements. Appears that little or no effort was made. Calculations are not accurate

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July 1, 2023
    

 

31) Which of the following describes the distinction between the Phillips curve and the AS curve?

A) The AS curve has the price level on the vertical axis whereas the Phillips curve has the interest rate on the vertical axis.

B) The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of change in the interest rate on the vertical axis.

C) The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.

D) The AS curve has the rate of price inflation on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.

E) There is no distinction: the two curves are essentially the same thing.

32) If the economy in the short run is experiencing a recessionary gap, we are likely to see

A) severe and widespread labour shortages.

B) quickly rising output prices.

C) many workers receiving employment-insurance benefits.

D) the number of employment-insurance recipients the lowest ever.

E) consumers optimistic about the future.

33) Which of the following statements about output gaps is true?

A) When actual GDP is below potential GDP, there is upward pressure on wages.

B) When actual GDP is below potential GDP, there is upward pressure on output prices.

C) When actual GDP is above potential GDP, there is downward pressure on wages.

D) When actual GDP is above potential GDP, there is downward pressure on output prices.

E) When actual GDP is above potential GDP, there is upward pressure on wages.

34) Consider the basic AD/AS diagram. The vertical line at Y* shows the relationship between the price level and the amount of output ________ have adjusted to output gaps.

A) demanded by households after all factor prices

B) supplied by firms after all factor prices

C) demanded by households before all factor prices

D) supplied by firms before all factor prices

E) supplied by firms after all output prices

35) As the macro economy adjusts from the short run to the long run,

A) wages and other factor prices adjust to close output gaps.

B) potential output is adjusting to close inflationary or recessionary gaps.

C) wages and other factor prices remain constant.

D) aggregate demand shocks cause deviations from potential output.

E) aggregate supply shocks cause deviations from potential output.

36) Following any AD or AS shock, economists typically assume that the adjustment process continues until

A) the AD and AS curves intersect each other at the correct price level.

B) real GDP returns to Y*.

C) factor prices have returned to their levels previous to the shock.

D) Y* adjusts to its long-run equilibrium level.

E) the output gap is at a stable level.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37) Refer to Table 24-1. Which of the economies is operating at its long-run equilibrium?

A) Economy A

B) Economy B

C) Economy C

D) Economy D

E) Economy E

38) Refer to Table 24-1. Which of the economies are experiencing an inflationary gap?

A) Economies A and B

B) Economies B and C

C) Economies C and D

D) Economies D and E

E) none of the economies

39) Refer to Table 24-1. Which of the following statements best describes the situation facing Economy B?

A) There is a recessionary gap of $40 billion and wages are falling slowly.

B) There is an inflationary gap of $40 billion and wages are rising.

C) There is a recessionary gap of $20 billion and wages are falling slowly.

D) There is no output gap and wages are stable.

E) There is an output gap of $20 billion and wages are rapidly adjusting.

40) Refer to Table 24-1. Consider Economy E. Which of the following best describes the positions of the aggregate demand and aggregate supply curves in this economy?

A) The AD curve has shifted to the right and the economy is in a short-run disequilibrium position.

B) The AS curve has shifted to the left and the economy is in a short-run disequilibrium position.

C) The intersection of the AD and AS curves is to the right of Y*.

D) The intersection of the AD and AS curves is to the left of Y*.

E) The intersection of the AD and AS curves coincide with the long-run aggregate supply curve.

 

 

default image
July 1, 2023
    

 

31) Which of the following describes the distinction between the Phillips curve and the AS curve?

A) The AS curve has the price level on the vertical axis whereas the Phillips curve has the interest rate on the vertical axis.

B) The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of change in the interest rate on the vertical axis.

C) The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.

D) The AS curve has the rate of price inflation on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.

E) There is no distinction: the two curves are essentially the same thing.

32) If the economy in the short run is experiencing a recessionary gap, we are likely to see

A) severe and widespread labour shortages.

B) quickly rising output prices.

C) many workers receiving employment-insurance benefits.

D) the number of employment-insurance recipients the lowest ever.

E) consumers optimistic about the future.

33) Which of the following statements about output gaps is true?

A) When actual GDP is below potential GDP, there is upward pressure on wages.

B) When actual GDP is below potential GDP, there is upward pressure on output prices.

C) When actual GDP is above potential GDP, there is downward pressure on wages.

D) When actual GDP is above potential GDP, there is downward pressure on output prices.

E) When actual GDP is above potential GDP, there is upward pressure on wages.

34) Consider the basic AD/AS diagram. The vertical line at Y* shows the relationship between the price level and the amount of output ________ have adjusted to output gaps.

A) demanded by households after all factor prices

B) supplied by firms after all factor prices

C) demanded by households before all factor prices

D) supplied by firms before all factor prices

E) supplied by firms after all output prices

35) As the macro economy adjusts from the short run to the long run,

A) wages and other factor prices adjust to close output gaps.

B) potential output is adjusting to close inflationary or recessionary gaps.

C) wages and other factor prices remain constant.

D) aggregate demand shocks cause deviations from potential output.

E) aggregate supply shocks cause deviations from potential output.

36) Following any AD or AS shock, economists typically assume that the adjustment process continues until

A) the AD and AS curves intersect each other at the correct price level.

B) real GDP returns to Y*.

C) factor prices have returned to their levels previous to the shock.

D) Y* adjusts to its long-run equilibrium level.

E) the output gap is at a stable level.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37) Refer to Table 24-1. Which of the economies is operating at its long-run equilibrium?

A) Economy A

B) Economy B

C) Economy C

D) Economy D

E) Economy E

38) Refer to Table 24-1. Which of the economies are experiencing an inflationary gap?

A) Economies A and B

B) Economies B and C

C) Economies C and D

D) Economies D and E

E) none of the economies

39) Refer to Table 24-1. Which of the following statements best describes the situation facing Economy B?

A) There is a recessionary gap of $40 billion and wages are falling slowly.

B) There is an inflationary gap of $40 billion and wages are rising.

C) There is a recessionary gap of $20 billion and wages are falling slowly.

D) There is no output gap and wages are stable.

E) There is an output gap of $20 billion and wages are rapidly adjusting.

40) Refer to Table 24-1. Consider Economy E. Which of the following best describes the positions of the aggregate demand and aggregate supply curves in this economy?

A) The AD curve has shifted to the right and the economy is in a short-run disequilibrium position.

B) The AS curve has shifted to the left and the economy is in a short-run disequilibrium position.

C) The intersection of the AD and AS curves is to the right of Y*.

D) The intersection of the AD and AS curves is to the left of Y*.

E) The intersection of the AD and AS curves coincide with the long-run aggregate supply curve.

 

 

default image
July 1, 2023
    

 

31) Which of the following describes the distinction between the Phillips curve and the AS curve?

A) The AS curve has the price level on the vertical axis whereas the Phillips curve has the interest rate on the vertical axis.

B) The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of change in the interest rate on the vertical axis.

C) The AS curve has the price level on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.

D) The AS curve has the rate of price inflation on the vertical axis whereas the Phillips curve has the rate of wage changes on the vertical axis.

E) There is no distinction: the two curves are essentially the same thing.

32) If the economy in the short run is experiencing a recessionary gap, we are likely to see

A) severe and widespread labour shortages.

B) quickly rising output prices.

C) many workers receiving employment-insurance benefits.

D) the number of employment-insurance recipients the lowest ever.

E) consumers optimistic about the future.

33) Which of the following statements about output gaps is true?

A) When actual GDP is below potential GDP, there is upward pressure on wages.

B) When actual GDP is below potential GDP, there is upward pressure on output prices.

C) When actual GDP is above potential GDP, there is downward pressure on wages.

D) When actual GDP is above potential GDP, there is downward pressure on output prices.

E) When actual GDP is above potential GDP, there is upward pressure on wages.

34) Consider the basic AD/AS diagram. The vertical line at Y* shows the relationship between the price level and the amount of output ________ have adjusted to output gaps.

A) demanded by households after all factor prices

B) supplied by firms after all factor prices

C) demanded by households before all factor prices

D) supplied by firms before all factor prices

E) supplied by firms after all output prices

35) As the macro economy adjusts from the short run to the long run,

A) wages and other factor prices adjust to close output gaps.

B) potential output is adjusting to close inflationary or recessionary gaps.

C) wages and other factor prices remain constant.

D) aggregate demand shocks cause deviations from potential output.

E) aggregate supply shocks cause deviations from potential output.

36) Following any AD or AS shock, economists typically assume that the adjustment process continues until

A) the AD and AS curves intersect each other at the correct price level.

B) real GDP returns to Y*.

C) factor prices have returned to their levels previous to the shock.

D) Y* adjusts to its long-run equilibrium level.

E) the output gap is at a stable level.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37) Refer to Table 24-1. Which of the economies is operating at its long-run equilibrium?

A) Economy A

B) Economy B

C) Economy C

D) Economy D

E) Economy E

38) Refer to Table 24-1. Which of the economies are experiencing an inflationary gap?

A) Economies A and B

B) Economies B and C

C) Economies C and D

D) Economies D and E

E) none of the economies

39) Refer to Table 24-1. Which of the following statements best describes the situation facing Economy B?

A) There is a recessionary gap of $40 billion and wages are falling slowly.

B) There is an inflationary gap of $40 billion and wages are rising.

C) There is a recessionary gap of $20 billion and wages are falling slowly.

D) There is no output gap and wages are stable.

E) There is an output gap of $20 billion and wages are rapidly adjusting.

40) Refer to Table 24-1. Consider Economy E. Which of the following best describes the positions of the aggregate demand and aggregate supply curves in this economy?

A) The AD curve has shifted to the right and the economy is in a short-run disequilibrium position.

B) The AS curve has shifted to the left and the economy is in a short-run disequilibrium position.

C) The intersection of the AD and AS curves is to the right of Y*.

D) The intersection of the AD and AS curves is to the left of Y*.

E) The intersection of the AD and AS curves coincide with the long-run aggregate supply curve.

 

 

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